KFC/BYND in LTO TEST
Finally, a real test for consumer demand but it's not BYND'S core product! In the QSR space, LTO typically generate significant trial, so I fully expect news on the test to be positive in the coming months, but that will not change our view.
BYND is a SHORT
KFC restaurants nationwide will add Beyond Meat's plant-based chicken to its menus, starting Monday for a limited time. The launch comes after years of testing from the Yum Brands chain and Beyond Meat to create a meat substitute that mimicked the taste and texture of whole muscle chicken, like chicken breast. The two companies first tested plant-based chicken at an Atlanta restaurant in August 2019 — and sold out their limited supply in less than five hours. KFC then tested the new item in Nashville, Charlotte, N.C., and southern California two years ago. YouTube star Liza Koshy will star in the plant-based chicken ad campaign to promote the new menu item. However, KFC will not be targeting vegans and vegetarians directly with its marketing because Beyond Fried Chicken is made using the same equipment as KFC's traditional fried chicken. Customers can buy KFC's Beyond Fried Chicken in six- or 12-piece orders, including dipping sauce. Prices start at $6.99, excluding tax.
The next positive press release for BYND will be MCD expanding its test from 8 stores to 200 stores in 1H22.
WMT Delivery
WMT announced plans for a five-fold expansion of its in-home Delivery service and plans to hire more than 3,000 delivery drivers and build out its fleet of all-electric delivery vans to help support that expansion. The company said it would make the InHome service available to 30 million households, up from six million by the end of the year. "We've been operating InHome in select markets over the last two years and have found it is a perfect solution for customers who want to live their lives without worrying about making it to the store or being home to accept a delivery," said Tom Ward, senior vice president of last-mile at Walmart U.S. The InHome Delivery service, launched in 2019, costs $19.95 per month, or $148 a year. WMT is covered by @Hedgeyeretail
BROS NEW CTO
Dutch Bros Coffee (BROS) names Leigh Gower its first chief technology officer. Gower assumed the role of Chief Technology Officer on Dec. 1, 2021. Before joining Dutch Bros, Gower served as Vice President, Technology at the Blue Nile. Before the Blue Nile, Gower served as a Senior Director, Product & Technology at T-Mobile and a Management Consultant at Slalom Consulting.
"My passion has always been enabling businesses with effective technology to power compelling customer experiences," said Gower. "Dutch Bros is a disruptive brand defining its own path, and passionate about speed, quality, and service as core values. I look forward to working with an incredible team and approaching new ways of reaching our customers with a culture of curiosity and collaboration."
